Direxion Daily S&P 500 High Beta Bull 3X Shares (NYSEARCA:HIBL) Short Interest Update

Direxion Daily S&P 500 High Beta Bull 3X Shares (NYSEARCA:HIBL) was the target of a large decline in short interest in the month of July. As of July 15th, there was short interest totaling 14,187 shares, a decline of 46.7% from the June 30th total of 26,607 shares. Currently, 1.8% of the shares of the company are short sold. Based on an average trading volume of 60,242 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Investors Weigh In On Direxion Daily S&P 500 High Beta Bull 3X Shares

A number of institutional investors and hedge funds have recently made changes to their positions in HIBL. Virtu Financial LLC grew its holdings in shares of Direxion Daily S&P 500 High Beta Bull 3X Shares by 347.5% during the fourth quarter. Virtu Financial LLC now owns 21,545 shares of the company’s stock worth $1,415,000 after buying an additional 16,731 shares during the last quarter. Jane Street Group LLC purchased a new stake in Direxion Daily S&P 500 High Beta Bull 3X Shares during the 2nd quarter valued at approximately $1,659,000. Group One Trading LLC purchased a new stake in Direxion Daily S&P 500 High Beta Bull 3X Shares during the 4th quarter valued at approximately $39,000. Tower Research Capital LLC TRC lifted its position in Direxion Daily S&P 500 High Beta Bull 3X Shares by 131.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 33,572 shares of the company’s stock worth $1,443,000 after acquiring an additional 19,063 shares during the period. Finally, Susquehanna International Group LLP lifted its position in Direxion Daily S&P 500 High Beta Bull 3X Shares by 4.9% during the 3rd quarter. Susquehanna International Group LLP now owns 69,556 shares of the company’s stock worth $4,104,000 after acquiring an additional 3,247 shares during the period.

Direxion Daily S&P 500 High Beta Bull 3X Shares Trading Down 10.6%

HIBL stock traded down $9.72 on Wednesday, hitting $82.00. The company’s stock had a trading volume of 65,119 shares, compared to its average volume of 73,897. The stock has a market cap of $66.42 million, a price-to-earnings ratio of 14.26 and a beta of 4.30. The firm has a 50 day moving average of $113.73 and a two-hundred day moving average of $89.35. Direxion Daily S&P 500 High Beta Bull 3X Shares has a 1 year low of $43.93 and a 1 year high of $138.11.

About Direxion Daily S&P 500 High Beta Bull 3X Shares

The Direxion Daily S&P 500 High Beta Bull 3X Shares (HIBL) is an exchange-traded fund that is based on the S&P 500 High Beta index. The fund provides 3x daily leveraged exposure to a beta-weighted index of 100 highest-beta stocks in the S&P 500. HIBL was launched on Nov 7, 2019 and is managed by Direxion.